Non competitive bidding facility enables retail investor participation in government securities auctions at the weighted average auction yield. The notification implements a yield based uniform price auction for five year Government stock with a reserved five percent allocation for Non competitive Bidding Facility. Eligible investors without current or SGL accounts may submit a single non competitive bid via a bank or PD subject to a per auction ceiling and minimum denomination. Allotment under the non competitive segment is at the weighted average yield/price from competitive bidding, securities are issued in SGL form to designated accounts, and banks/PDs must allocate securities, collect payments (including accrued interest), and report operations to the Reserve Bank.
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Provisions expressly mentioned in the judgment/order text.
Non competitive bidding facility enables retail investor participation in government securities auctions at the weighted average auction yield.
The notification implements a yield based uniform price auction for five year Government stock with a reserved five percent allocation for Non competitive Bidding Facility. Eligible investors without current or SGL accounts may submit a single non competitive bid via a bank or PD subject to a per auction ceiling and minimum denomination. Allotment under the non competitive segment is at the weighted average yield/price from competitive bidding, securities are issued in SGL form to designated accounts, and banks/PDs must allocate securities, collect payments (including accrued interest), and report operations to the Reserve Bank.
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